Bank Nifty Outlook for 30th Nov

 

In the previous session:

Bank Nifty went up by 749 points before closing higher by 685 points on Wednesday

Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 24th March 2020

On 29th Nov:

Bank Nifty triggered our long trade with a gap up near our 2nd target and gave a dip till near our entry and completed all target and more doing 500+ points

For 30th Nov:

Sustaining above 44690 can move towards 44765 - 44855 - 45090, SL 44605

Sustaining below 44440 can move towards 44365 - 44280 - 44050, SL 44530

In the Previous Week: 

Bank Nifty traded sideways and did not confirm a long or short trade as per weekly levels

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 43925 - 44020 to move towards its initial weekly long targets of 44285 - 44355. 

Closing above 44355 Bank Nifty may move towards its last weekly long targets of 44580 - 44830

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43615 - 43515 to move towards its initial weekly short targets of 43250 - 43185

Closing below 43185 Bank Nifty may move towards its last weekly short targets of 42960 - 42710.

So far this week Bank Nifty triggered our weekly long trade and completed our initial targets of 44285 - 44355 and reached our last weekly long target zone of 44580 - 44830 with a high of 44630.35 and closed at 44566.45. The trailing cbsl for the weekly long trade is now 44280

Now in the coming sessions Bank Nifty sustaining above 44355 can move towards 44580 - 44830. On the downside Bank Nifty breaking below 44440 has immediate support at 44280 - 44050.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor before entering any trades based on them. The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decision